Projo Biz Blog

As the national foreclosure crisis continues to grab headlines, leaders of the National Low Income Housing Coalition on Tuesday drew attention to a persistent problem in the housing market: the lack of affordable rental housing for those unable to buy a house.

"The news is worse," Sheila Crowley, president of the coalition, said in an afternoon conference call.

The group's benchmark measure, the housing wage, rose from $17.32 last year to $17.84 this year, Crowley said. The housing wage is the amount a full-time, year-round worker would have to earn an hour to afford market rents.

That's the national wage. In Rhode Island, it is even higher, $18.76, according to the coalition's report, titled "Out of Reach 2009." That compares to an estimated average wage for renters of $12.01.

The study found that the fair-market rent for a two-bedroom apartment in Rhode Island is $976 a month. That compares to a median household income of $1,833 a month and an average renter's income of $624 a month.

 Tags  fair-market rent housing housing wage median household income national low income housing coalition out of reach

Comments

oreo said:

This is RI remember. The state where all the welfare and Illegal's and protected! I have 3 rental properties, all have 3 units with 2 bedrooms each. I will keep the rent high so I don't get Illegals and welfare mothers. Common sense!!

Link | April 14, 2009 3:17 PM
Report Abuse

---

Leave a comment

Name:

Email:

URL:  

Remember personal info?

Captcha:

Type the characters you see in the picture above.